Question
Jeters Company uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1
Jeters Company uses a periodic inventory system and reports the following for the month of June.
Date | Explanation | Units | Unit Cost | Total Cost | ||||
---|---|---|---|---|---|---|---|---|
June 1 | Inventory | 120 | $5 | $ 600 | ||||
12 | Purchases | 370 | 6 | 2,220 | ||||
23 | Purchases | 200 | 7 | 1,400 | ||||
30 | Inventory | 230 |
(a1)
Correct answer icon
Your answer is correct.
Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
Weighted-average unit cost | $enter a weighted-average unit cost in dollars enter a weighted-average unit cost in dollars |
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(a2)
Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.)
FIFO | LIFO | Average-cost | ||||
---|---|---|---|---|---|---|
The cost of the ending inventory | $enter a dollar amount enter a dollar amount | $enter a dollar amount enter a dollar amount | $enter a dollar amount enter a dollar amount | |||
The cost of goods sold | $enter a dollar amount enter a dollar amount | $enter a dollar amount enter a dollar amount | $enter a dollar amount enter a dollar amount |
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